
*libname TP_Data "The location of the data folder\TP_Pseudo";




*** Table 6 ***;


* Model 1 *;

Proc glm data=TP_Data.Table_6_model_1;
absorb Analyst_year_Dummy;
class YM_dummy Ind_Dummy;
model dgtw_adj_ret= 	TP  Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp Relative_EPS_optimism  drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy Ind_Dummy/ solution;
run;
quit;


* Model 2 *;

Proc glm data=TP_Data.Table_6_model_2; 
absorb Ind_year_Dummy;
class YM_dummy;
model dgtw_adj_ret= 	TP SB Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp gexp Portsize Portfolio_complexity Relative_EPS_optimism All_star drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy / solution;
run;
quit;


* Model 3 *;

Proc glm data=TP_Data.Table_6_model_3;
absorb Analyst_year_Dummy;
class YM_dummy Ind_Dummy;
model dgtw_adj_ret= 	TP  Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp Relative_EPS_optimism  drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy Ind_Dummy/ solution;
run;
quit;


* Model 4 *;

Proc glm data=TP_Data.Table_6_model_4; 
absorb Ind_year_Dummy;
class YM_dummy;
model dgtw_adj_ret= 	TP SB Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp gexp Portsize Portfolio_complexity Relative_EPS_optimism All_star drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy / solution;
run;
quit;


* Model 5 *;

Proc glm data=TP_Data.Table_6_model_5; 
absorb analyst_dummy;
class YM_dummy;
model dgtw_adj_ret= 	TP SB Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp gexp Portsize Portfolio_complexity Relative_EPS_optimism All_star drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy / solution;
run;
quit;


* Model 6 *;

Proc glm data=TP_Data.Table_6_model_6; 
absorb Ind_dummy;
class YM_dummy;
model dgtw_adj_ret= 	TP SB Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp gexp Portsize Portfolio_complexity Relative_EPS_optimism All_star drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy / solution;
run;
quit;


* Model 7 *;

Proc glm data=TP_Data.Table_6_model_7; 
absorb analyst_dummy;
class YM_dummy;
model dgtw_adj_ret= 	TP SB Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp gexp Portsize Portfolio_complexity Relative_EPS_optimism All_star drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy / solution;
run;
quit;


* Model 8 *;

Proc glm data=TP_Data.Table_6_model_8; 
absorb Ind_dummy;
class YM_dummy;
model dgtw_adj_ret= 	TP SB Size BM Institutional_holding Turnover Dispersion Past_12m_return Analyst_Coverage fexp gexp Portsize Portfolio_complexity Relative_EPS_optimism All_star drop_cov Top10_Broker Investment_Bank_Affiliation Broker_Ind_spec
						YM_dummy / solution;
run;
quit;

